Brandywine Global Investment Management LLC Sells 13,010 Shares of CoreCivic, Inc. (NYSE:CXW)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in CoreCivic, Inc. by 3.8%, selling 13,010 shares, and now holds approximately 0.30% of the company worth $6.71 million.
• CoreCivic reported a quarterly EPS of $0.59, surpassing expectations, with revenue of $538.17 million, marking a 9.8% increase year-over-year.
• Several investment firms, including Vanguard Group and Allianz Asset Management, have recently increased their holdings in CoreCivic, reflecting a growing interest in the company among institutional investors.

Brandywine Global Investment Management LLC decreased its holdings in shares of CoreCivic, Inc. (NYSE:CXW - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 330,754 shares of the real estate investment trust's stock after selling 13,010 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.30% of CoreCivic worth $6,711,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in CoreCivic by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,215,492 shares of the real estate investment trust's stock worth $247,852,000 after purchasing an additional 267,198 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in CoreCivic by 7.3% during the first quarter. Allianz Asset Management GmbH now owns 1,622,800 shares of the real estate investment trust's stock worth $32,927,000 after purchasing an additional 109,769 shares during the last quarter. Millennium Management LLC boosted its holdings in CoreCivic by 88.4% during the fourth quarter. Millennium Management LLC now owns 1,261,944 shares of the real estate investment trust's stock worth $27,435,000 after purchasing an additional 592,070 shares during the last quarter. Northern Trust Corp boosted its holdings in CoreCivic by 3.1% during the fourth quarter. Northern Trust Corp now owns 1,251,464 shares of the real estate investment trust's stock worth $27,207,000 after purchasing an additional 37,639 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in CoreCivic by 2.3% during the first quarter. Principal Financial Group Inc. now owns 547,061 shares of the real estate investment trust's stock worth $11,100,000 after purchasing an additional 12,374 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company's stock.

CoreCivic Stock Performance

Shares of CXW stock opened at $20.81 on Friday. The stock has a market cap of $2.23 billion, a P/E ratio of 22.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. The company has a fifty day moving average price of $20.79 and a two-hundred day moving average price of $20.68. CoreCivic, Inc. has a one year low of $12.13 and a one year high of $24.99.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.16. The firm had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a net margin of 5.21% and a return on equity of 7.12%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, equities analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jones Trading restated a "buy" rating and set a $30.00 target price on shares of CoreCivic in a report on Thursday, August 7th. Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Wedbush reiterated an "outperform" rating and issued a $38.00 price target on shares of CoreCivic in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CoreCivic presently has an average rating of "Buy" and a consensus price target of $33.33.

Insider Activity at CoreCivic

In other news, CEO Damon T. Hininger sold 72,246 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $22.50, for a total transaction of $1,625,535.00. Following the completion of the sale, the chief executive officer owned 879,324 shares in the company, valued at approximately $19,784,790. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick D. Swindle sold 23,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $22.39, for a total transaction of $514,970.00. Following the sale, the chief operating officer owned 241,630 shares of the company's stock, valued at approximately $5,410,095.70. This represents a 8.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,246 shares of company stock worth $2,449,465. 2.30% of the stock is owned by corporate insiders.

CoreCivic Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

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